Herr Investment Group LLC Invests $274,000 in InMode Ltd. (NASDAQ:INMD)

Herr Investment Group LLC bought a new stake in InMode Ltd. (NASDAQ:INMD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,000 shares of the healthcare company’s stock, valued at approximately $274,000.

A number of other institutional investors have also made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in InMode by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,068,396 shares of the healthcare company’s stock worth $37,728,000 after acquiring an additional 214,200 shares during the last quarter. DDD Partners LLC raised its position in InMode by 19.4% in the 2nd quarter. DDD Partners LLC now owns 1,266,678 shares of the healthcare company’s stock worth $23,104,000 after purchasing an additional 205,947 shares during the last quarter. Federated Hermes Inc. raised its position in InMode by 191.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,125,017 shares of the healthcare company’s stock worth $20,520,000 after purchasing an additional 739,629 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in InMode by 63.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,124,887 shares of the healthcare company’s stock worth $20,502,000 after buying an additional 437,122 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in InMode by 3.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900,831 shares of the healthcare company’s stock valued at $19,467,000 after buying an additional 29,519 shares during the last quarter. 68.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INMD has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Needham & Company LLC reissued a “hold” rating on shares of InMode in a report on Thursday, July 11th. Jefferies Financial Group lowered shares of InMode from a “buy” rating to a “hold” rating and reduced their target price for the company from $21.00 to $19.00 in a research note on Tuesday, July 23rd. Finally, Barclays dropped their price target on shares of InMode from $33.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, InMode currently has an average rating of “Hold” and an average price target of $22.40.

InMode Trading Up 1.6 %

NASDAQ:INMD opened at $17.74 on Friday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 8.41 and a beta of 2.17. InMode Ltd. has a 1-year low of $15.39 and a 1-year high of $34.15. The business’s 50-day moving average price is $16.79 and its two-hundred day moving average price is $18.19.

InMode (NASDAQ:INMD) last released its quarterly earnings data on Thursday, August 1st. The healthcare company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $102.60 million for the quarter, compared to the consensus estimate of $104.81 million. InMode had a return on equity of 21.00% and a net margin of 35.81%. The firm’s revenue was down 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts predict that InMode Ltd. will post 1.63 earnings per share for the current year.

InMode Profile

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.